Currency Note Worldwide

Sterling buoyant against commodity backed currencies

By Smart Currency November 28th, 2013

Elsewhere yesterday, the Japanese yen continued its difficult start to the week. An announcement on Monday from Bank of Japan eluded toward policy makers having worries over the outlook of the Japanese economy, which triggered a sell-off of in Japanese stocks. The Canadian dollar struggled, touching 4-month lows against its US counterpart as crude oil, Canada’s biggest export, fell in price for the fourth day in a row. The Australian dollar also weakened yesterday in continuation of the sentiment from this Australian central bank earlier this week that the currency is overvalued, and that if it remains at these levels it could have a detrimental impact on the export-reliant economy. Overnight last night we had business confidence figures out of New Zealand and private capital expenditure data from Australia. Get in touch with your trader for a live rate.